“An increase in the price of stamps will hit the elderly, vulnerable and millions of people who rely on the postal service, including small businesses and charities.

“At a time when family budgets are facing an unprecedented squeeze, the cost of living is rising and growth has been stalled by David Cameron and George Osborne’s policies, such a large rise in the price of stamps is the last thing we need. This decision is a direct result of the Government pursuing the privatisation of Royal Mail.

“Royal Mail must recognise the tough circumstances people are facing and ensure that the postal service remains affordable and accessible.

“Following recent comments by Royal Mail Chief Executive Moya Greene that Christmas 2012 stamp prices will be held at 2011 levels for vulnerable customers, we look forward to hearing further details on how this will work in practice.”